Dear Clients, Colleagues, & Friends of the Firm: We are carefully monitoring the situation involving the COVID-19 outbreak and have assembled a Crisis Team of experienced financial and legal professionals to help businesses define and deal with the impact it has and will have on businesses in … [Read more...] about Trying times, we will Persevere
Federal Tax Liens – The Death Knell for Business Debtors
Federal Tax Liens are often the final nail in the coffin of an operating company’s slide into insolvency. The recording of a Federal Tax Lien will effectively shut off the flow of commercial financing dollars and is also deemed a statutory lien not subject to avoidance by a Trustee under 11 … [Read more...] about Federal Tax Liens – The Death Knell for Business Debtors
DENIAL: Why we are now up against the wall?
As workout, insolvency and bankruptcy lawyers, we are often called upon to evaluate a difficult set of facts which could have been radically different had the client acted sooner. We are not psychiatrists, psychologists or persons schooled in the science of understanding why people do what … [Read more...] about DENIAL: Why we are now up against the wall?
Judicial Foreclosure – What and Why
Historical Background If one begins with the basic tenet that financial institutions ‘run the show’ in the area of monetary matters, then the entirety of the procedural structures for the enforcement of obligations secured by real property make sense. With the exception of legislation … [Read more...] about Judicial Foreclosure – What and Why
Chapter 11 has become very INTERESTing
The traditional response before the current financial meltdown to what a potential Chapter 11 Debtor could expect in a successful cram-down plan of reorganization (assuming that all of the very technical hurdles were successfully navigated) was: “Market rate of interest, seven year term, and … [Read more...] about Chapter 11 has become very INTERESTing